Jefferies Financial Group upgraded shares of Infinera (NASDAQ:INFN) from an underperform rating to a hold rating in a research note issued to investors on Friday morning, MarketBeat Ratings reports.
Several other equities analysts have also commented on INFN. BidaskClub lowered shares of Infinera from a buy rating to a hold rating in a report on Saturday, July 14th. Raymond James lowered shares of Infinera from a market perform rating to an underperform rating in a report on Tuesday, July 24th. Northland Securities raised shares of Infinera from a market perform rating to an outperform rating and set a $12.00 price target on the stock in a report on Tuesday, July 24th. MKM Partners decreased their price target on shares of Infinera to $10.00 and set a neutral rating on the stock in a report on Tuesday, July 24th. Finally, Rosenblatt Securities set a $13.00 price target on shares of Infinera and gave the company a buy rating in a report on Tuesday, July 24th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $9.40.
INFN stock traded up $0.26 during mid-day trading on Friday, hitting $4.70. The stock had a trading volume of 8,286,403 shares, compared to its average volume of 4,066,045. Infinera has a 52 week low of $4.11 and a 52 week high of $12.39.
Infinera (NASDAQ:INFN) last released its earnings results on Tuesday, November 6th. The communications equipment provider reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). Infinera had a negative net margin of 19.18% and a negative return on equity of 11.78%. The firm had revenue of $200.41 million for the quarter, compared to analyst estimates of $210.57 million. During the same period last year, the firm earned ($0.11) EPS. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. Equities research analysts forecast that Infinera will post -0.62 earnings per share for the current fiscal year.
In other Infinera news, COO David W. Heard bought 20,000 shares of Infinera stock in a transaction on Friday, November 9th. The shares were purchased at an average cost of $4.74 per share, with a total value of $94,800.00. Following the acquisition, the chief operating officer now directly owns 44,532 shares of the company’s stock, valued at approximately $211,081.68. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas J. Fallon bought 50,000 shares of Infinera stock in a transaction on Friday, November 9th. The shares were acquired at an average cost of $4.63 per share, for a total transaction of $231,500.00. The disclosure for this purchase can be found here. Insiders own 2.90% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Infinera by 100.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,567 shares of the communications equipment provider’s stock worth $155,000 after acquiring an additional 7,800 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Infinera during the 3rd quarter worth approximately $165,000. Cim Investment Mangement Inc. bought a new stake in Infinera during the 3rd quarter worth approximately $197,000. Campbell & CO Investment Adviser LLC bought a new stake in Infinera during the 2nd quarter worth approximately $242,000. Finally, Gilder Gagnon Howe & Co. LLC grew its holdings in Infinera by 48.6% during the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 56,473 shares of the communications equipment provider’s stock worth $412,000 after acquiring an additional 18,457 shares during the last quarter. 82.94% of the stock is currently owned by hedge funds and other institutional investors.
Infinera Corporation provides optical transport networking solutions, equipment, and software and services worldwide. The company's product portfolio consists of Infinera DTN-X Family of terabit-class transport network platforms, including the XTC Series, XTS Series, and XT Series; Infinera DTN-X XTC series multi-terabit packet optical transport platforms that integrate digital OTN switching and optical WDM transmission; and Infinera DTN-X XT series for terrestrial applications and XTS series for subsea applications.
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